Thursday, September 06, 2012

Democrats Controlled the Government in 2006

Just a reminder. Democrats won the Congress in 2006 in a landslide election. George Bush was in complete bunker mode from the 2006 to 2008 and spent every dime of political capital on the surge.

Internationally, the world turned left in reaction to Bush's wars. One by one, countries were electing in socialists or outright communist regimes before the great crash.

As pointed out in the last post, the derivatives that played a role in the crash were created during the Clinton Administration.

A final observation. People invest looking forward and not looking back.

It was clear to anyone with a brain that 2008 would be a blow out for Democrats. The people who were removing their money from the market did so because they felt the future would be bad, not because they thought the past was bad.

I reject completely the notion that the king is the economy. I think it is dangerous to develop a cult of the presidency in which we attribute the economic condition to the president.

When we begin to believe pure speculative statements like "Obama saved us from a Depression" we fault in a mode of superstition and not reason.
Advocates of the Austrian School of economics actually claim that Obama's policies turned a recession into a prolonged recession because the bailouts failed to let the economy hit bottom.